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Morningstar

New Covenant Income NCICX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 21.12  /  0.53 %
  • Total Assets 364.6 Mil
  • Adj. Expense Ratio
    0.800%
  • Expense Ratio 0.960%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category Intermediate Core Bond
  • Credit Quality / Interest Rate Sensitivity High / Limited
  • Min. Initial Investment 500
  • Status Open
  • TTM Yield 2.12%
  • Effective Duration 4.77 years

USD | NAV as of Feb 01, 2023 | 1-Day Return as of Feb 01, 2023, 11:24 PM GMT+00:00

Morningstar’s Analysis NCICX

Will NCICX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NCICX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the NCICX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of NCICX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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New Covenant Income's recent fee hike and decreased People Pillar rating result in a fall in this strategy's Morningstar Quantitative Rating to Negative from Neutral. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

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